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Canadian Utilities Ltd
TSX:CU

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Canadian Utilities Ltd
TSX:CU
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Price: 41.52 CAD 0.75% Market Closed
Market Cap: 8.5B CAD

Canadian Utilities Ltd
Investor Relations

Canadian Utilities Ltd., a venerable player in the North American energy landscape, has woven its operations into the essential services that power modern life. The company’s journey is deeply rooted in its commitment to providing reliable and sustainable energy solutions. As a subsidiary of the ATCO Group, Canadian Utilities’ mission revolves around its three core pillars: electricity, energy infrastructure, and retail energy services. The electricity segment manages the generation, transmission, and distribution of energy, mainly across Alberta, and maintains a diverse fleet of power facilities that include natural gas and hydroelectric sources. Through these capabilities, the company delivers stable and consistent energy supply, which translates into regular revenue streams fueled by long-term agreements and regulatory frameworks.

Not merely content with maintaining traditional roles, Canadian Utilities has embarked on a forward-looking path, embracing innovation in energy infrastructure. It has significant investments in natural gas networks and storage facilities, positioning itself strategically to cater to both residential and industrial needs. Moreover, the utilities business taps into retail energy, where it serves as a bridge between energy producers and consumers, providing competitive pricing and options that appeal to the environmentally conscious. Through its adept management and strategic initiatives, Canadian Utilities not only fortifies its financial foundation but also plays a pivotal role in addressing the dynamic challenges of the energy sector, all while striving for a sustainable future.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 7, 2025
AI Summary
Q3 2025

Adjusted Earnings: Canadian Utilities reported adjusted earnings of $108 million or $0.40 per share, up from $102 million last year, driven by growth across all core businesses.

Project Pipeline: Major infrastructure projects like the $280 million CETO transmission upgrade and the Yellowhead pipeline are advancing, with key regulatory milestones achieved.

Funding Progress: The company successfully raised $750 million in hybrid notes and $370 million in debentures, with strong investor demand and no expected need for a public equity raise for Yellowhead.

Gas Storage Expansion: Continued strong performance in natural gas storage, with plans to expand capacity from 117 to 130 petajoules by late 2026.

Australia Growth: ATCO Australia delivered adjusted earnings of $27 million, up 80% year-over-year, benefiting from higher rates, outperformance, and some one-off items.

Cost Efficiencies: Ongoing focus on operational and supply chain efficiencies, as well as IT repatriation and leadership consolidation to support long-term value creation.

Guidance: Management expects headwinds in Q4 due to the absence of certain tax efficiencies, but continues to see positive momentum into 2026.

Key Financials
Adjusted Earnings
$108 million
Adjusted Earnings Per Share
$0.40
ATCO Energy Systems Adjusted Earnings
$98 million
ATCO EnPower Adjusted Earnings
$16 million
ATCO Australia Adjusted Earnings
$27 million
Alberta Population
5 million
ATCO Energy Systems New Customer Connections (2025)
over 19,000
Yellowhead Pipeline Contracted Capacity
90%
Gas Storage Capacity (Current)
117 petajoules
New Customer Connections (ATCO Gas Australia, AA6 5-Year Plan)
approximately 80,000
ATCO Gas Australia Return on Equity
8.23%
Australia Utility Outperformance (2024)
over 550 basis points above regulated ROE
Canadian Utilities Outperformance (2024)
almost 100 basis points above regulated ROE
CETO Project Value
$280 million
Hybrid Notes Issuance (September 2025)
$750 million at 5.45%
Debentures Issuance (September 2025)
$370 million at 4.787%
Yellowhead Pipeline Current Cost Estimate
$2.9 billion
Earnings Call Recording
Other Earnings Calls

Management

Ms. Nancy C. Southern
Executive Chair & CEO
No Bio Available
Mr. Robert J. Myles B. Eng., B.Sc., P.Eng.
Chief Operating Officer of ATCO EnPower
No Bio Available
Mr. Wayne K. Stensby
Chief Operating Officer of ATCO Energy Systems
No Bio Available
Ms. Rebecca A. Penrice
Executive Vice President of Corporate Services
No Bio Available
Mr. Alan M. Skiffington
VP & Chief Information Officer
No Bio Available
Mr. Myles Dougan
Director of Investor Relations & External Reporting
No Bio Available
Mr. Kurt Kadatz
Senior Communications Manager
No Bio Available
Ms. Lisa Cooke
Senior VP & Chief Marketing Officer
No Bio Available
Mr. Deanna M. Girard
Vice President of Human Resources
No Bio Available
Mr. Brian R. Bale
Special Advisor to the CEO and Senior VP of IT & Real Estate
No Bio Available

Contacts

Address
ALBERTA
Calgary
5302 Forand St SW
Contacts